1882 $100 Gold Certificate Brings $750,000

1882 $100 Gold Certificate Brings $750,000

Total from 3 Heritage coin and currency auctions held during Long Beach Expo top $49 million

One of just two known examples of an extraordinary hand-signed, triple signature 1882 $100 gold certificate lived up to its billing – and then some – when it sold for $750,000 to lead Heritage Auctions’ Long Beach Expo US Currency Signature® Auction – Long Beach to $10,682,198 Oct. 5-7.

The event was part of an extraordinary week of Heritage Long Beach Expo auctions. The Harry W. Bass Jr. Core Collection Part I US Coins Signature® Auction reached $20,459,645, then the Long Beach Expo US Currency Signature® Auction – Long Beach brought $10,682,198. Last but not least, the second Long Beach Expo US Coins Signature® Auction finished at $17,875,326 boosting the three events to $49,017,169, setting a new all-time record for any Long Beach Expo numismatic auction total.

The only privately-owned example of this exceptional banknote – the other is in a much lower grade and was transferred in 1978 from the Treasury Department to the Smithsonian Institution – this Fr. 1202 $100 1882 Gold Certificate PMG Very Fine 30 from The Allan J. Goldman Collection finished atop a list of 10 lots that drew six-figure results.

“You have to remember, only the first 9,000 that were printed and issued were hand-signed by Thomas C. Acton, who served as the superintendent of the New York Assay Office, Assistant U.S. Treasurer and the founder and president of the Bank of New Amsterdam,” says Dustin Johnston, Vice President of Currency at Heritage Auctions, “and of those, only two are known to have survived – a microscopic survival rate. With the other known survivor secured in the National Numismatic Collection at the Smithsonian, this is a remarkable example that immediately assumes a prominent position in its new collection.”

A Fr. 2230-E $10,000 1928 Federal Reserve Note. PMG Choice About Unc 58 soared to $504,000 – exceeding its pre-auction estimate by $104,000. The sole finest-graded 1928 $10,000 Federal Reserve Note represents the ultimate combination of rarity and condition: it is one of just 10 known for the type … and two of those are housed in museum collections. “This note captured the title for most expensive Small Size type note when it last sold,” Johnston says. “On Thursday night, it recaptured the title.”

A Fr. 2231-B $10,000 1934 Federal Reserve Note. PCGS Banknote Choice Unc 64, once a part of the famed $1 million display at Binion’s Horseshoe Casino in Las Vegas, more than doubled its pre-auction estimate when it climbed to $312,000. This historic banknote, with serial number B00003059A, was part of the renowned display that was composed of 100 Series 1934 $10,000 FRNs on the New York district framed by a large gold-color horseshoe. The open end of the horseshoe was on the bottom and the notes were exhibited in five columns of 20 notes each; the note sold in this auction is one of the nicest examples featured in the display.

Also unique in private hands was a Fr. 1203 $100 1882 Gold Certificate PMG Choice Fine 15, which drew a winning bid of $300,000. All of the major Gold Certificate offerings were from the first issuing period, prior to 1891. Among the most important of these rarities is the Fr. 1203, featuring the Signatures of Blanch Bruce and A.U. Wyman, who served jointly in the Treasury from April 1883 to April 1885. This magnificent note is one of just three known examples; the two others are part of the Federal Reserve Bank Collections in Richmond and New York.

Another high-denomination prize in the event was a Fr. 2220-F $5,000 1928 Federal Reserve Note. PMG Choice Very Fine 35, which rode a surge of more than a dozen bids to $216,000. Track & Price has enumerated just 19 serial numbers for the 1928 Series as compared to 109 for the 1934 Series. The serial number on this note is F00000077A and has been included in the census data for years. The 1928 notes have the “redeemable in gold on demand” obligation clause, while the 1934 notes sport the “redeemable in lawful money” obligation clause.

Other top lots included, but were not limited to:

A Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG Extremely Fine 40: $192,000

Unique in private hands, a New Orleans, LA – $50 1875 Fr. 444 The Hibernia National Bank Ch. # 2086 PMG Very Fine 30: $174,000

A Fr. 1218f $1,000 1882 Gold Certificate PMG Very Fine 25 from The Allan H. Goldman Collection: $156,000

The finest known Fr. 174 $100 1880 Legal Tender PMG Choice Uncirculated 64: $156,000

A Fr. 1200 $50 1922 Gold Certificate PMG Superb Gem Unc 67 EPQ – the sole finest large-size $50 gold: $102,000

Complete results can be found at HA.com/3589.

Posted by News Release in Auctions, Recent
Updated, Bigger Guide Book of Morgan Silver Dollars

Updated, Bigger Guide Book of Morgan Silver Dollars

Whitman Publishing will release the newly expanded and updated seventh edition of A Guide Book of Morgan Silver Dollars, by Q. David Bowers, for the 2022 holiday season. The 336-page book will be available in December from booksellers and hobby shops nationwide. In the meantime, it can be preordered (including online at www.Whitman.com).

The seventh edition’s coin-by-coin retail values have been updated in a snapshot of today’s rare-coin market, with detailed pricing in 11 circulated and Mint State grades plus 3 levels of Proof. The book includes hundreds of new images, with photographs of every date in the series plus new illustrations in the history chapters and appendices, and galleries of toned silver dollars and error coins. Analysis of certified-coin populations has been updated. The seventh edition includes an updated appendix on counterfeit Morgan dollars, based on the research of Beth Deisher, and a new appendix on the 1921–2021 centennial Morgan dollar coins. The index has been expanded for easy, comprehensive navigation of the book’s contents.

Following the format of the first six editions, the seventh includes a history of America’s silver dollar dating back to the 1790s, and chapters on the Morgan dollar’s design, how dies were made, the minting process, the five mints that struck the coin from 1878 to 1921, and Treasury hoards and other accumulations. For collectors, Bowers gives advice on ways to collect Morgan dollars; grading and the marketplace; and how to cherrypick rare die varieties. The book’s year-by-year catalog is an analysis by date and mintmark of more than 100 coins in the series. Appendices offer a report on the recent discovery of 1964 Morgan dollar dies and hubs in the Philadelphia Mint’s archives; a study of Morgan dollar patterns; a gallery and descriptions of misstruck and error Morgan dollars (including the 1882-CC “Grand Snake”); a study of counterfeit Morgan dollars in today’s market; and information on the 1921 Silver Dollar Coin Anniversary Act.

“No American numismatic library is complete without the latest edition of A Guide Book of Morgan Silver Dollars,” said Jeff Garrett, senior editor of the Guide Book of United States Coins, in the new edition’s foreword.

The cover of the new seventh edition showcases a nearly perfect 1896-S Morgan silver dollar, graded MS-69. Positioned around it are an iridescent toned Proof of 1894; a cropped view of a 1964 Morgan dollar hub; a rare error coin, struck 25 percent off center; a 1921 “Chapman Proof,” graded PF-67; a Judd-1371 pattern struck in copper; and a 2021 coin marking the 100th anniversary of the historic Morgan dollar’s last coinage.

The Bowers Series, named for Whitman Publishing’s numismatic director, Q. David Bowers, is a popular library of numismatic books, each covering a different segment of the hobby. More than two dozen volumes have been published as of 2022, written by Bowers and other authors including David W. Lange, Rick Snow, Katherine Jaeger, Frank J. Colletti, Roger W. Burdette, Rick Tomaska, and Joshua McMorrow-Hernandez. Together they comprise more than 6,000 pages of history, market data, grading instructions, and other valuable numismatic information. Because Whitman Publishing is the Official Supplier of the American Numismatic Association, ANA members receive 10% off the book when purchasing directly from the publisher. It can also be borrowed for free as a benefit of ANA membership, through the Dwight N. Manley Numismatic Library.

Posted by News Release in Books, Recent
Leading First Bass Collection Auction Realizes $20.5 Million

Leading First Bass Collection Auction Realizes $20.5 Million

A magnificent 1821 half eagle rode a burst of furiously competitive bidding all the way to $4.62 million, leading one of the finest collections of U.S. gold coins and related patterns ever assembled to $20,459,645 in Heritage Auctions’ Harry W. Bass Jr. Core Collection Part I US Coins Signature®Auction — Long Beach Sept. 29.

Proceeds from the auction will benefit the dozens of Dallas-based nonprofits supported by the Harry W. Bass Jr. Foundation, with a particular emphasis on early childhood education and literacy in Dallas.

“The Bass Trustees are thrilled with the results and grateful to the Heritage Auctions team for its outstanding execution of this sale” said David Calhoun, executive director of the Harry Bass Foundation. “It was an exciting event that far exceeded our expectation.”

Many lots in the auction set new auction records, including:

The 1821 Capped Head Left Five, PR65 Cameo: $4,620,000 (previous record: $198,000)

An 1854 Gold Dollar, PR65 Deep Cameo: $720,000 (previous record: $68,750)

An 1833 Quarter Eagle, PR63 Cameo: $408,000 (previous record: $50,600)

An 1860-S Three Dollar Gold, MS64: $360,000 (previous record: $37,600)

An 1855-S Three Dollar, MS64: $264,000 (previous record: $64,625)

The event generated perfect sell-through rates of 100% by value and by lots sold. The lineage of many of the coins in this auction can be traced to the heralded auction of Louis E. Eliasberg Sr.’s gold coin collection in 1982.

As a proof, the 1821 Capped Head Left half eagle is prohibitively rare; only two proof examples are known, one of which is included in the National Numismatic Collection at the Smithsonian Institution.

“This is an extraordinary coin that brought an extraordinary result,” Heritage Auctions Executive Vice President Todd Imhof said. “The fact that the proceeds from this event will benefit dozens of charities in the Dallas community, where Heritage Auctions’ corporate headquarters is located, makes this event exceedingly gratifying.”

The collection has been out of the reach of collectors for more than 50 years, and has been on display at the American Numismatic Association’s Edward C. Rochette Money Museum in Colorado Springs, Colo., since October 2000.  The foundation’s trustees voted earlier this year to sell the collection, which includes roughly 450 U.S. gold coins dating back to the late 1700s, as part of a plan to increase its annual giving from $2 million to at least $5 million, depending on the results of this auction.

The 1821 Half Eagle prompted 70 bids before rising to the top of the auction’s results, but it was one of three coins in the auction that cleared more than $1 million.

A 1804 Capped Bust Right Eagle, PR63 – the discovery coin for the issue – closed at $2.28 million. The 1804 Plain 4 eagle was struck for inclusion in the diplomatic presentation proof sets that also included the famous 1804 dollars. Initially collected as a regular proof of 1804, later considered a pattern, and finally recognized as a special striking, produced by the Mint to fulfill a specific government purpose, it is now one of the rarest and most valuable U.S. coins. Only four specimens were struck, just three of which can be positively confirmed today. Even the great institutional collections at the Smithsonian and the American Numismatic Society do not include an example of this fabulous rarity.

The second-finest 1860 Liberty Double Eagle, PR65+ Cameo ended at a record $1.2 million (previous record: $367,188). This exceptional example is one of just 59 proof Liberty double eagles duly recorded in 1860, and one of just seven examples traced today.

Other highlights included, but were not limited to:

A 1795 BD-1 13 Leaves Ten Dollar, MS64: $690,000

An 1848 CAL. Quarter Eagle, MS64: $552,000

A 1798 Two and a Half, MS64 Prooflike: $516,000

Since the 1990s, the Harry W. Bass Jr. Foundation has supported qualified 501(c)(3) organizations throughout Dallas, primarily focusing on youth and education. Among its more than four dozen recipients, the foundation counts Frazier Revitalization in South Dallas, Head Start of Greater DallasBoys & Girls Clubs of Greater Dallas, the Momentous InstituteBachman Lake Together in Northwest Dallas and Readers 2 Leaders in West Dallas. But the foundation also helps feed the hungry through such nonprofits as Crossroads Community Services (which provides nutritional assistance for at-risk children in Dallas County), and it supports Austin Street Center‘s work with Dallas’ unsheltered.

Complete results can be found at HA.com/1353.

The next installment of the Harry W. Bass Jr. Collection will be offered Jan. 4-9 through Heritage Auctions at the FUN US Coins Signature® Auction.

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Geneva, Brussels, Amsterdam and Hong Kong.

Posted by News Release in Auctions, Recent
Expanded Red Book, 76th Edition, Will Debut at the 2022 Whitman Baltimore Expo

Expanded Red Book, 76th Edition, Will Debut at the 2022 Whitman Baltimore Expo

Visitors to the March 31–April 2, 2022, Whitman Coin & Collectibles Expo in Baltimore will have early access to the 2023 (76th) edition of the Guide Book of United States Coins (known to collectors as the “Red Book”). After its Expo debut this newest edition of the hobby’s best-selling reference will be available from booksellers and hobby shops nationwide. In the meantime, it can be preordered, including at Whitman.com and other online bookstores.

A Guide Book of United States Coins is the world’s most popular annual retail price guide for U.S. coins, tokens, and other numismatic items.

The 76th edition has been expanded to 472 pages. It prices nearly 8,000 entries in up to 9 grades each, with more than 32,000 retail valuations in total. It includes many new features and updated research, plus additions to the book’s 1,900-plus color photographs.

Senior Editor Jeff Garrett said, “Today’s rare-coin market is dominated by collectors, with an emphasis on quality. Auction records continue to be set for outstanding coins and ultra-rarities. Renewed interest in collectibles, financially flush consumers, and fear of inflation have all combined to spark demand across the board for most United States coinage. The 76th edition of the Red Book has more price increases than any in recent years.”

Editor Emeritus Kenneth Bressett has worked on the Red Book since 1959. He wrote about the first 75 years of its history in his memoir A Penny Saved: R.S. Yeoman and His Remarkable Red Book. “I pity anyone looking for auction bargains today!” Bressett said about the current coin market. “Choice coins seem to be high on everyone’s wish list. Condition and rarity prompt the most active bidding, and shocking prices. The stimulated activity has also caused price increases in many lower-grade pieces. Are prices too high? Probably not, even though the expanded competition might not last forever. Markets and collector interests have a habit of changing over the years, but seemingly always in an upward direction over any reasonable period of time. The old adage ‘The time to buy is when the piece you want becomes available’ is as true today as it has ever been. I see nothing but good times ahead.”

Research Editor Q. David Bowers calls the Red Book “the most useful single-volume reference a coin collector can add to their library.”

“Our print runs for the Red Book have sold out faster than normal in recent years,” said Whitman publisher Dennis Tucker. “We see this increased demand as a measure of the hobby’s growth. The 25 millionth copy of the Red Book was sold in 2021, and strong demand continues in 2022.”

The 76th edition, with a cover date of 2023, will be available in formats including the classic red hardcover; the convenient spiralbound softcover that lies flat when opened; and the easy-to-read Large Print Edition.

Posted by News Release in Books, Recent